Agricultural Bank to expand granting of loans for equipment & agricultural production

... Has decided to expand the Agricultural Bank to grant loans and banking facilities to farmers and to finance agriculture and contribute to the development.

The Director-General of the Agricultural Bank Mohammad Hadi al-Khafaji board of directors decided to expand the bank to grant loans and to promote the process through the provision of agricultural machinery and equipment and production requirements, and retaining the buildings for agricultural operations.

Khafaji said that "the Agricultural Bank is the granting of loans and banking facilities to companies and offices of contractors by the agricultural services (plowing, leveling the land, harvesting, clearing the tables and drink), as well as banking facilities granted to the offices of the sale of seeds, fertilizers, pesticides and tools of the field manual" as well as agricultural and industrial plants such as Al-Debs, the briber and canning vegetables, dates, Tomato paste, educators and the establishment of repair shops and workshops, machinery and agricultural equipment and stores specializing the manufacture of metal and plastic houses are lending to Allawi and the establishment of modern warehouses in the Allawi district to the owners, vegetables and fruits and to assist them in marketing operations and the purchase of auto production (made for the transfer of agricultural and livestock).

The Director of the Agricultural Bank that the interest rate on loans to be met (10%) per annum "is paid in three installments in the case of construction and the duration of the loan for the establishment of the shops six annual installments worth after the first year of the exchange rate of the first installment and the duration of the loan for the purchase of vehicles, construction of three installments .

Khafaji said that determining the value of the loan depends on the expenditure and the price prevailing at the date of disbursement of loans and the organization of the contribution by the Bank in funding (70%) of the approved cost.

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